Outlook: Building up new markets
Newmark Security posted a record pre-tax profit in FY15. This benefited from orders from the Post Office and acceleration of a refurbishment programme for another long-term customer, which will not be repeated in FY16. Management has instigated a programme of activities based on geographic expansion, product development and acquisition, which is designed to drive profits growth from FY17 onwards. Our analysis of fair value at £20m (4.3p) assumes that these activities will be able to return the group to FY15 profit levels by FY17.Newmark is a provider of security systems. Co. is engaged in the design, manufacture and supply of products and services for the security of assets and personnel. Co. operates in two divisions: electronic (Grosvenor Technology), which designs and distributes access control systems, as well as workforce management systems hardware for time-and-attendance, shop-floor data collection, and access control systems; and asset protection (Safetell), which designs and installs fixed and reactive security screens, reception counters, cash management systems and associated physical security equipment, as well as services and maintains CCTV systems, automatic door operators, locks and other equipment.
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